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Nov 27, 2012
11/12
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we talked about optimism in europe. mary thompson is here with details. >> gold did pull back today. dollar strength at play there. longer term, traders still believe gold is well supported by a couple of things. tensions in the mideast, of course concerns about the fiscal cliff here in the u.s. also, expectations we'll see further monetary easing in japan. all bullish for gold. taking a quick look at what happened in the energy complex. a mixed day there. crude pulling back despite some very good economic news. the dollar strength at play there as well. all of this as the december options expired. ahead of tomorrow's inventory report, which is expected to show a build in crude inventory. natural gas rebounding from yesterday's decline, which was spurred by the forecast for a warm december. back to you. >> all right, mary. thank you very much. >> all right. we've got 52 minutes before the closing bell. the dow jones industrial average off of its lows, down 55 points. the nasdaq is lower by -- fractionally lower. >> and
we talked about optimism in europe. mary thompson is here with details. >> gold did pull back today. dollar strength at play there. longer term, traders still believe gold is well supported by a couple of things. tensions in the mideast, of course concerns about the fiscal cliff here in the u.s. also, expectations we'll see further monetary easing in japan. all bullish for gold. taking a quick look at what happened in the energy complex. a mixed day there. crude pulling back despite some...
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Dec 13, 2012
12/12
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. >> if you believe that, you know, we're going to be more like europe every year, i'd definitely be owning some gold. >> is that what you any? >> i don't -- i -- i have not liked gold as an inflation indicator throughout this whole run in part because i saw it as a flight to safety indicator more than anything else, not necessarily an inflation indicator. >> i agree. >> and it's hard for me to imagine that the equity market is trading for fear of inflation. every barometer i've looked at said this is a hawkish trade, a deflationary trade going on today, just the opposite. >> one more thing. i do agree that the reason i would never advocate selling stocks is because inflation is coming, and it's a great inflation adjustment instrument. >> all right. we'll leave it there. >> decoupling of gold and rick santelli works would have thunk it. >> thanks, guys. see you a little later. 40 minutes before the closing bell sounds for the day. market that is worse, down 100 points on the dow jones industrial average. as you can see, 96 points lower. >> someone just calling that, going back to the
. >> if you believe that, you know, we're going to be more like europe every year, i'd definitely be owning some gold. >> is that what you any? >> i don't -- i -- i have not liked gold as an inflation indicator throughout this whole run in part because i saw it as a flight to safety indicator more than anything else, not necessarily an inflation indicator. >> i agree. >> and it's hard for me to imagine that the equity market is trading for fear of inflation. every...
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Dec 21, 2012
12/12
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>> that assumes all else being equal, the problem is you look at europe, it's recovering. you look at the way china is acting, it's recovering. a lot of the weakness that could come from the fiscal cliff may be picked up from overseas markets which have been a drag this year. maybe you see a flipping of that in 2013. >> it's interesting that you are looking at the emerging markets. even though, yes, you're looking at higher growth rates than some of these outside the u.s. hot spots, they've come down quite a bit. does that slowdown in growth affect you? >> no question it's slowed down quite a bit. the big three things that have happened in 2012, only five days left, are things that didn't have. greece does not have an exit. citigroup had a 90% chance earlier this year. the biggest day of this jurn year was june 17th when they elected a moderate who did not try to pull greece out. and germany stepped up and gave them some money and that september the 6th, that was the european central bank. so you had china, maria, the united states and greece. none of them went off the cli
>> that assumes all else being equal, the problem is you look at europe, it's recovering. you look at the way china is acting, it's recovering. a lot of the weakness that could come from the fiscal cliff may be picked up from overseas markets which have been a drag this year. maybe you see a flipping of that in 2013. >> it's interesting that you are looking at the emerging markets. even though, yes, you're looking at higher growth rates than some of these outside the u.s. hot spots,...
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Dec 18, 2012
12/12
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is it europe, the election? is it the fiscal cliff, but as you go through those one by one, the election is now behind us. i do believe we'll have a resolution on the fiscal cliff and if you look at europe, the ecb put a gigantic band-aid on this so next year will be a big year. >> did you see the s&p upgraded greece today by six notches? i had to hit the machine to make sure that was the correct number there. >> well, you know, a lot of volatility in rate. >> bob pisani, what do you think today? a pretty good real under way? all about the fiscal cliff? >> well, the markets, is bullish because the markets are acting like 2013 will resolve a lot of problems so we've multi-month highs in the stock market. we have the safe haven, gold and bonds just getting hit badly again. i mean, bond yields are moving up. gold is moving down on a day when the dollar is -- is weak today, so the markets are sort of acting like things are actually going to resolve themself. even now, maria, you might notice, the headlines out this
is it europe, the election? is it the fiscal cliff, but as you go through those one by one, the election is now behind us. i do believe we'll have a resolution on the fiscal cliff and if you look at europe, the ecb put a gigantic band-aid on this so next year will be a big year. >> did you see the s&p upgraded greece today by six notches? i had to hit the machine to make sure that was the correct number there. >> well, you know, a lot of volatility in rate. >> bob pisani,...
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Nov 29, 2012
11/12
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europe is slow e lily resolving issues. >> that reverses in the first quarter if we go over the cliff. >> it depends how we go over. if we go over for a couple days and they get a deal, it's fine. if this thing really breaks down, sure, that's not priced in. i don't think that's where we're going. >> you're from california, correct? >> i live there, yes. >> doesn't make you a bad person. >> i'm from buffalo too. >> it explains why he's stylish, right? well, i live in california. we voted to raise income taxes and sales taxes. california is, what, one-seventh of the u.s. economy. >> jerry browne's miracle. >> i'm going to get a bill as well as every other californian asking for money. >> what is your point? >> that will have a negative impact on the california economy and on the u.s. economy. so ron is right. there are parts of the u.s. economy are certainly improving, but there are other parts that have not yet felt a vice that's squeezing on them. >> all right. we got to go. the bell is going to ring shortly, i feel like. we got to go. thank you, everybody. appreciate it. we are head
europe is slow e lily resolving issues. >> that reverses in the first quarter if we go over the cliff. >> it depends how we go over. if we go over for a couple days and they get a deal, it's fine. if this thing really breaks down, sure, that's not priced in. i don't think that's where we're going. >> you're from california, correct? >> i live there, yes. >> doesn't make you a bad person. >> i'm from buffalo too. >> it explains why he's stylish, right?...
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Dec 11, 2012
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we've seen this in the past in europe and other brinksmanship moments. my hope would be that a small correction in the markets, maybe down 5% for a couple of days in a row, would kind of get them back and really force them to kind of make a decision but my worry is that that's what it will take there. has to be some external pressure applied to get them to understand the consequences of this endless debate. >> what's the green light you're waiting for to buy then? >> it's -- it's seeing a deal done because frankly i -- i'm not going to jump on the first tentative deal. these things can easily fall apart once they see the light of day and the details come out. i think investors should be careful about going for head fakes, the inevitible stories about they are about to reach an agreement show me the details so that i know whether the deal is doable or not and then i'll determine whether or not they resolve the problem. >> thanks for coming on the program. thanks so much. >> thank you. >> ethan harris joining us. >> and as we head towards the close, the bi
we've seen this in the past in europe and other brinksmanship moments. my hope would be that a small correction in the markets, maybe down 5% for a couple of days in a row, would kind of get them back and really force them to kind of make a decision but my worry is that that's what it will take there. has to be some external pressure applied to get them to understand the consequences of this endless debate. >> what's the green light you're waiting for to buy then? >> it's -- it's...
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Dec 20, 2012
12/12
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will be clearing its equity trades in europe. this deal will not face regulatory scrutiny with the way that this is formed. the former deal attempts with deutsche boerse fell and here there was no overlap between i.c.e. and nyc. however, this clearing agreement makes it very tough and expensive to break up this deal between nyc and i.c.e., so the question market sources are asking now is what is the next move for cme group, nasdaq, hong kong exchange, among others? let's talk about when,deal and what it all means right now. scott, this is part of the deal that's really being underreported and not spoken about too much. that's the clearing exchange partnership. that's going to make it very tough to penetrate and to get any competitors to break up this deal. >> officials all over the globe who are assessing this deal and trying to figure out what they are going to do next to try to remain competitive. joining us now are david faber, bob pisani and steven guilfoyle and rick santelli at the cme. first, david, who broke the story this
will be clearing its equity trades in europe. this deal will not face regulatory scrutiny with the way that this is formed. the former deal attempts with deutsche boerse fell and here there was no overlap between i.c.e. and nyc. however, this clearing agreement makes it very tough and expensive to break up this deal between nyc and i.c.e., so the question market sources are asking now is what is the next move for cme group, nasdaq, hong kong exchange, among others? let's talk about when,deal...
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Nov 27, 2012
11/12
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liz: exposure to europe? >> exposure to europe, we think it is bottoming out. europe is in recession, liz. it is in a recession. however, the global growth part, the gdp of the globe is 65 trillion. europe is a quarter of it. 16 trillion. the united states is 16 trillion. so europe and the united states are very intertwined, but we think the u.s. is doing better and that helps the european companies. liz: we told people about the three ps, you say profits, production, personal income. i don't see fiscal cliff in there. you say this is what people need to look at. when you talk about profits, we just came through the third quarter which was kind of the worst in a couple of years we have seen. >> third quarter was the worst in three years, liz, only up 1/10 of 1% with 97% of the s&p 500 companies reporting. but profits we think are something that's got to be there for the market to have a sustained advance next year. our number as you know is for 1434. it is at 1406. at year end 1434 would only be a gain of 2%, dividend, another 2%. only 4% return from stocks. pr
liz: exposure to europe? >> exposure to europe, we think it is bottoming out. europe is in recession, liz. it is in a recession. however, the global growth part, the gdp of the globe is 65 trillion. europe is a quarter of it. 16 trillion. the united states is 16 trillion. so europe and the united states are very intertwined, but we think the u.s. is doing better and that helps the european companies. liz: we told people about the three ps, you say profits, production, personal income. i...
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Dec 26, 2012
12/12
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>> i think you have to watch things in europe. the big day is the september 11th elections in germany and germany could be harder after the election. in the first half is the sent ceiling discussion and finally profits, personal income and production, if those can do better than the markets can lift but right now the view is for a nothing market from here till year end. once the seasonal increases go away, we could have tax increases rand spending cuts if we get a deal. why is that going on a headwind for the stock market? >> i think it will be. if the taxes go up, i think that's something that hurts consumer confidence. you've seen the retail sales in the last part of this season here, have sold off, and many people have said it's because of the fiscal cliff. >> kind of depressing when you say it's a nothing market between now and the end of 2013. how do you make money, if you want to see it's going to be a -- >> he knows rhyme going to say buy apple. it's up 20%, up 50% and some off a little bit. if it sells off, you'll have nic
>> i think you have to watch things in europe. the big day is the september 11th elections in germany and germany could be harder after the election. in the first half is the sent ceiling discussion and finally profits, personal income and production, if those can do better than the markets can lift but right now the view is for a nothing market from here till year end. once the seasonal increases go away, we could have tax increases rand spending cuts if we get a deal. why is that going...
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Nov 28, 2012
11/12
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. >> you have done a great job in the americas, you got to fix europe and street not far east and the rest. >> it is down to execution, we will get that going forward. >> let me ask about the economy and the fiscal cliff. are you making plans right now for ford to downside production if we get a serious problem? >> we have a process where we are looking at production so no matter what happens with a fiscal cliff is salt or not we will be able to react the -- >> doing anything in the short term? >> right now know. we are keeping the current strategy of keeping production in line with demand and we see something happening with the economy because of the fiscal cliff we will adjust the production either way. >> that is the fiesta that has how many cylinders? >> it has a three cylinder, one liter engine that gets 123 horsepower and puts a smile on your face. >> is that enough cylinders? >> absolutely. it is interesting because in the past people use to define their cars by how big the displacement was in the engine and how many cylinders they have. to date is few economy and performance.
. >> you have done a great job in the americas, you got to fix europe and street not far east and the rest. >> it is down to execution, we will get that going forward. >> let me ask about the economy and the fiscal cliff. are you making plans right now for ford to downside production if we get a serious problem? >> we have a process where we are looking at production so no matter what happens with a fiscal cliff is salt or not we will be able to react the -- >>...
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Nov 29, 2012
11/12
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in europe, europe hasn't fixed itself. there could be significant demand destruction like office demand, rents could drop. shoppers will panic if the the euro falls apart. so we're being very careful in europe. brazil is interesting. >> going down quite a bit, right? >> a lot. but it's also a lot of money out of the markets. we find it interesting. we have a very large partner in brazil. he's aggressively buying because there's better deals to be done. people thought capital would be infinite. prices have fallen, and people have too much debt. so they're willing to sell. >> final question here. if we go over the fiscal cliff, you're at a great spot to tell us what you would see in the economy. how tough would things be? how tough would it be for real estate and your business? >> i don't mind. >> if we go over the fiscal cliff? >> no. >> why? >> because i think it will teach everyone a lesson. >> unemployment goes up. >> look, i think -- it isn't actually the impact of that. i think it'll get people so angry with the admini
in europe, europe hasn't fixed itself. there could be significant demand destruction like office demand, rents could drop. shoppers will panic if the the euro falls apart. so we're being very careful in europe. brazil is interesting. >> going down quite a bit, right? >> a lot. but it's also a lot of money out of the markets. we find it interesting. we have a very large partner in brazil. he's aggressively buying because there's better deals to be done. people thought capital would...
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Nov 29, 2012
11/12
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>> europe 600. liz: some of the biggest names in europe. it is an interesting point. >> i look at copper, silver, look at the euro bought 130, we saw weakness in the dollar and the equity market right or wrong proceeds weakness in the dollar. if you want to look at oil today and next week we have some real concerns, adp on manufacturing, a chance for that to come in on the cycle of the market will pull back it will come in the middle of next week off until december 12 and the poetry election, is the question of strength and weakness looking at the economic calendar as well. liz: we will talk about the japanese parliamentary election. thanks to all of you for joining us on the floor. talk about headlines missed. the market practically hugging every word that comes out of washington whether it is president obama making comments, speaker john boehner, harry reid, the market tanks and any signs of disagreement. don't fret, next guest is here to tell you about how to behave in this atmosphere in a way he believes will make you money. joining me
>> europe 600. liz: some of the biggest names in europe. it is an interesting point. >> i look at copper, silver, look at the euro bought 130, we saw weakness in the dollar and the equity market right or wrong proceeds weakness in the dollar. if you want to look at oil today and next week we have some real concerns, adp on manufacturing, a chance for that to come in on the cycle of the market will pull back it will come in the middle of next week off until december 12 and the poetry...
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Dec 28, 2012
12/12
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focus on some of the positive things like europe didn't fall over. interest rates are reasonable in spain, italy, and great britain. ashley: corporate earnings, signs of weakness in the last earnings season. concernedded about that? >> i think that it's cyclical. i think there's been little signs. i think we have to get employment together in the united states. housing is starting to come back. we're -- slowly, but in the north east in particular, there's more demand, and there's less housing inventory, but in the rest of the country, we have to wait and see on that. employment is really, really the key thing, and so what comes out of all the negotiations and how we employee people, infrastructure, and all of that makes a difference. ashley: companies hunkering down, a lot of cash, but not doing in until washington gets the act together. >> means technology, for example, could be a big sector. if companies get signals from washington and go out and invest into hiring people, putting technology online, it could be great, but we're just waiting and wai
focus on some of the positive things like europe didn't fall over. interest rates are reasonable in spain, italy, and great britain. ashley: corporate earnings, signs of weakness in the last earnings season. concernedded about that? >> i think that it's cyclical. i think there's been little signs. i think we have to get employment together in the united states. housing is starting to come back. we're -- slowly, but in the north east in particular, there's more demand, and there's less...
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Dec 27, 2012
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secondly the steel making coal which is used in europe brazil and in asia and we are one of the top three exporters of that coal in the world, and as the recovery in steel production increases in asia and in europe and latin america, that should be better for demand for that coal and hopefully pricing and really benefits most of the coal companies. ashley: steel prices firming as well. >> it seems that way, yes. ashley: the epa has been tough on the coal industry. >> you have said it, yeah. ashley: does that have an impact? >> it has. you know, certainly the equities were discounting a romney victory back in november. got hit pretty hard afterwards. now the stocks are back to where it was prior to the election. in my view, there's not much more major harm that the epa and other regulation can do to the coal industry. but certainly as the economy dictates demand, electricity generation and more confidence, that will be more important than say the epa. the epa has done their damage for the most part. you can never say never but i think most of the negative news is behind coal for the epa. a
secondly the steel making coal which is used in europe brazil and in asia and we are one of the top three exporters of that coal in the world, and as the recovery in steel production increases in asia and in europe and latin america, that should be better for demand for that coal and hopefully pricing and really benefits most of the coal companies. ashley: steel prices firming as well. >> it seems that way, yes. ashley: the epa has been tough on the coal industry. >> you have said...
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Oct 5, 2012
10/12
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that is europe is systemically important. capital relationships, banking balance sheets, subordinate relationships. i think all of that as they hiccup and the relationship between germany and exports in china is all going to give us a head wind. canada created 54,000 jobs today and they have one-tenth the size population. >> wow. doug, weigh in on the jobs numbers and what it means when it comes to investing in this market. >> the answers on the panel so far is why the market keeps going higher. everybody sees the clouds on the horizon. we all know what's wrong with europe. we all know the economy isn't recovering as fast as it could. in the end, you're getting paid 1,000 basis points in equity risk premiums. that's what you make over the risk-free rate to invest in stocks. i think in the end investors look at bonds and cash and say, what are they going to do for me and my retirement? they're not going to do anything. stocks are the only thing that can deliver those kind of returns. i think in the end the market grinds higher
that is europe is systemically important. capital relationships, banking balance sheets, subordinate relationships. i think all of that as they hiccup and the relationship between germany and exports in china is all going to give us a head wind. canada created 54,000 jobs today and they have one-tenth the size population. >> wow. doug, weigh in on the jobs numbers and what it means when it comes to investing in this market. >> the answers on the panel so far is why the market keeps...
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Dec 27, 2012
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look at emerging markets, lock at europe. they are decoupling. if anything, price is still very bull ir. i would rather listen to price. >> why do you say it's still very bullish? >> they recovered almost completely the loss which means the markets thinks tax puts will still be in play. the market is saying it's okay, you know, we've had an increase in market cap this year in the s&p 500 over $1 trillion. >> right. >> that's more than the cliff. >> let me go to my facebook friend michael carr. you speak washington ese. the house is convening. the president is -- >> doesn't it just make you sick? >> the were inthing you want to watch is eachon javers. i thought it was a perfect graphic. it's fabulous. you can't make it up. >> what do you do when you don't know what's going to happen, and you really don't. if you can get the debt limit thing right and guess how it's going to turn out or guess that it's actually going to do something, all evidence to the contrary, how would you invest, and when you recognize that none of us probably know and got it
look at emerging markets, lock at europe. they are decoupling. if anything, price is still very bull ir. i would rather listen to price. >> why do you say it's still very bullish? >> they recovered almost completely the loss which means the markets thinks tax puts will still be in play. the market is saying it's okay, you know, we've had an increase in market cap this year in the s&p 500 over $1 trillion. >> right. >> that's more than the cliff. >> let me go to...
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Dec 21, 2012
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clearly europe has gone in the right trajectory. there's some things set up here for markets to behave normally again and i think that would be fabulous for those that have capital market experience, those are obviously the most vulnerable. if you go over the cliff, you stay at the cliff. some of the regional banks that are coming back, as well, companies like regionons financial has gotten some of its credit woes behind it. they may surprise with the capital returns, as well. capital one has solid consolidators. they're now the seventh largest bank in this country. a shock to everybody, but very cheap to future earnings as long as we don't stay over the cliff for a long period of time. >> thank you so much. a former marma was indecided for insider trading. >> he was indicted today stemming from his trading of two pharmaceutical companies during the period of 2000. it's been a tough year for him, a married father of three who fainted at one point from anxiety when the fbi visited his home. but the question looming large over this ca
clearly europe has gone in the right trajectory. there's some things set up here for markets to behave normally again and i think that would be fabulous for those that have capital market experience, those are obviously the most vulnerable. if you go over the cliff, you stay at the cliff. some of the regional banks that are coming back, as well, companies like regionons financial has gotten some of its credit woes behind it. they may surprise with the capital returns, as well. capital one has...
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Nov 27, 2012
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europe is going to get resolve one way or the other. i think this is one of -- >> steve, he brings up a good point. consumers are not worried about the fiscal cliff. intraday trading today shows investors are worried about the fiscal cliff. who's right? >> well, consumer confidence showed that consumers are excited about housing. i think that's the one small bright spot that we've all seen that people can take benefit of low interest rates to buy homes, to renovate their homes. i think that's a small shining spot. >> but the spirit of the question is, should we be worried about the fiscal cliff? are we making much ado about nothing? >> well, consumers should understand that out of the $610 billion possible impact of the cliff, $400 billion is coming right out of the consumers' pockets. i think the answer to your question is they should be concerned with it. they're not educated enough on it to understand that $400 billion comes directly from their pockets. >> don't go anywhere yet, folks. we have some breaking news. earnings out from yo
europe is going to get resolve one way or the other. i think this is one of -- >> steve, he brings up a good point. consumers are not worried about the fiscal cliff. intraday trading today shows investors are worried about the fiscal cliff. who's right? >> well, consumer confidence showed that consumers are excited about housing. i think that's the one small bright spot that we've all seen that people can take benefit of low interest rates to buy homes, to renovate their homes. i...